South Area

This operating area is located in southern Alberta and produces medium quality oil. It has been the focus of Cardinal’s drilling activity since inception targeting multiple shallow oil horizons. Cardinal has grown this area from a combination of acquisitions and drilling to over 6,000 boe/d.

Area 2020 Budget & Statistics

NOI

($155-$165MM)
 
25%

Capex

($60-$65MM)
 
39%

P FCF*

($40-$45MM)
 
16%

Production

(20.1-21.5 mboe/d)
 
29%

Drilling

(wells)
 
55%

Drilling Inventory

(# potential locations)
 
92

*P FCF (Property Free Cash Flow) = Net Operating Income Less Capital Expenditures